Surveys for dummies

[Underthemountain]

Advice needed re survey requirement for new home please. Not sure how old house is, maybe built in 60's or 70's. I understand there are about three types but am not sure how it all works.

• if you just decide to get the valuation survey (is this mad?), the bank does this (is that right?)

-if you want a more detailed survey does the bank still do the basic one as well?

-does the bank organise the more detailed one or do you organise it yourself?

Ok 3 types

1. Valuation- done by lender but I believe if you have a typical modern house they may not even visit, just check that it's a reasonable valuation for the type of house it is. Regardless of other surveys you will usually have to pay the lender for this, often about £300 which is a rip off. They will organise.
2. homebuyer's report. This is what you want - (your) surveyor will go into the house and report on things of possible concern eg. Damp. You then decide if you want to investigate further. Normally you organise but some lenders may let you pay extra to have the valuation upgraded to this, which would save you a few hundred quid.
3. Full structural survey. As above but more detailed. Prob not worth it unless house very old or in bad way and/or you're planning significant structural work.

Ah, so you can upgrade. That's very helpful, thanks!

We had a full buildings survey done paid for by us and the bank had a valuation survey. They wouldn't use our one.

The valuation survey is a joke. The bank will look on rightmove (or equivalent) to check the house is in line with other local sales

I didn't realise that about the valuation one. We have decided to go for homebuyers thru the bank.